Bank of England sounds the alarm on consumer debt

Bank of England 230
By Sam Kerr
27 Jun 2017

The Bank of England has expressed concern over the rising levels of consumer debt in the UK, which increased by 10.3% in the 12 months through April 2017.

According to the central bank's latest Financial Stability Report (FSR), released on June 27, consumer debt has risen “markedly faster” than nominal household income.

As a result of the growth in consumer indebtedness, the bank is bringing forward the assessment of stressed losses on consumer credit lending in its ...

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